Laserfiche WebLink
<br />CASE # Y <br /> <br />CONSIDER ACQUISITION OF LOT 1, BLOCK 1 PINEVIEW ESTATES 2ND ADDITION <br />By: Tim Rimmer, City Engineer <br /> <br />Background: <br /> <br />The property owner has approached the City to discuss acquisition of Lot 1, Block 1 PINEVIEW <br />ESTATES 2ND ADDITION. The vacant parcel is contained within the corridor for a future north-south <br />road connecting the Town Center to Variolite Street. The property is 2.2 acres in size, and is currently <br />zoned PUD for the ability to have a business located on a residential parcel (live-work). <br /> <br />Observations: <br /> <br />The property owner is considering marketing the property and is wondering whether the City would like <br />to entertain a purchase agreement prior to it changing hands and potentially having improvements built <br />on the site. Staff is looking for direction on whether we should advance discussions with the resident at <br />this time. A future roadway alignment is currently shown in the City's Comprehensive Plan and the <br />Capital Improvement Program (CIP). The CIP identifies this project for construction in 2012, with <br />acquisition beginning in 2011. A couple of factors to consider: <br /> <br />. If acquired prior to being developed there would be no mark up from an unimproved condition or <br />potential relocation costs if a business were to be operating on the site. <br />. The timing of the proposed improvements and funding source for the purchase (currently <br />identified as State Aid dollars). <br />. To what degree do we advance discussions (appraisal, negotiations, etc.)? <br /> <br />This item was brought before the Public Works Committee on July 21, 2009, and the recommendation <br />from that group was to forward it to the Finance Committee for review. It was also requested to develop <br />alignment scenarios for this future proposed roadway connection and consider its constructability. The <br />property owner is looking to sell somewhere in the range of $150,000 to $200,000. According to Anoka <br />County property records the 2010 estimated market value if $56,700 (info attached). Other improved <br />properties in this PUD area have a price range of $180,000, for a developed lot with just a residence, to <br />$395,000, for a developed lot with a residence and a business. <br /> <br />Action: <br />Based upon discussion <br /> <br />Attachments: <br /> <br />Location Map <br />Aligninent Options <br />Anoka County Property Records <br />Public Works Committee Minutes <br /> <br />Reviewed By: <br />Director of Public W orks/Principal Cit~1 <br /> <br /> <br />FINANCE: 8/11/09 <br />